Analysis Post Updated

Hello Bloggers,
As you all know the topic of my blog has been about the debate over the reform of health care. I personally believe that health care reform should be passed because there are an abundant amount of flaws in our current system. This blog will more specifically analyze the effect that health care has on our economy, and if changing our current health care policy will, indeed, lessen the burden of our current economic crisis.
President Obama has repeatedly stated that passing health care reform will relieve some of the tension that is present in our economic situation. He has been known to refer to our health care system as a “ticking time bomb”. Some critics of the proposed health care bill are afraid that reforms will lead to unknown costs, and that taxes will abnormally increase. Health care accounts for about one-sixth of the economy, that’s more than any other industry. The United States spends about 25 trillion dollars annually on health care alone. The money the United States spends on health care is used for a plethora of hosts including: health care providers, retail sale of prescription and non-prescription drugs, and out-of-pocket payments by consumers. If the health care system was fixed it would reduce the amount of wasteful spending. About 30% of tax payer money is wasted on health care. Health care costs are continuing to rise. Since 2000 the cost of health care has doubled! By fixing the health care system, we would definitely fix the economy. Tax payer money is already used on health care and we repeatedly see that our money is being wasted, so it’s time to try a new approach and implement a plan that could “kill two birds”: health care, and our economy. Many people can agree on the fact that “doing nothing is definitely worse than doing something”.
The economic crisis involving health care has a lot to do with insurance companies. The cost of health insurance has risen dramatically over the last few years, and it’s apparent that health insurance companies are simply in business for money and not the better the lives of those whom they insure. Health insurance is the fastest growing cost component for employers. Many employers are ceasing to offer health insurance to employees because they cannot afford the pay for the costs of insurance; thus, leaving the employees uninsured. When uninsured patients go the doctor or emergency room, tax -payers end up paying for their visit. With the proposed health care bill it would be mandatory for employers to provide some type of health insurance to full-time workers. If more employers were offering health insurance to their employees, then the cost of health insurance would decrease. The outrageous price for health insurance has caused many people to file for bankruptcy. A recent study conducted by Harvard University researchers showed that fifty percent of those who filed for bankruptcy did so due to medical expenses. Studies conducted such as the one done by Harvard University, consistently shows that there is a glitch in our current health care system. Medical bills are far too expensive, even with insurance, and many people without insurance can’t even afford to seek help from a doctor.
So many people are wondering the same question. How will implementing a new Health Care Bill positively affect our economic crisis? The health care reform bill will help out our economic situation in numerous ways. First, as I stated previously, adopting a new health care bill will allow us to cut out unnecessary spending. Millions and millions of dollars are wasted each year due to inadequate spending. The health care reform bill will help to reduce wasteful spending because it will accurately record where the money for health care is being used. It will also reduce the amount of money that tax payers are paying to cover those who don’t have health insurance. With the current health care system, every time someone without health insurance visits the doctor, tax payers eventually end up paying for the non-insured. With the new health care bill there will be a “public option” which will allow everyone to choose if they would like to have health insurance that is ultimately ran by the government. Critics of the health care reform bill say that the bill will cause taxes to rise, and tax payers will be essentially paying for others to seek medical attention. While that concept is true, somewhat, it would be no different than what is being done now. Tax payers already help fund Medicaid and Medicare, so why not help those without insurance also get the help they deserve?
There are many issues to be worked out with the Health Care Reform Bill, but overall I think that it would be in our best interest to pass the Bill. We would reduce wasteful spending, and overall help our economy escape its current burdens.